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Originally Posted by bizaro86
Is it accurate that a joint account wouldnt have this issue if one holder died?
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I'm actually not 100% sure, but I suspect there could still be issues.
Either way, you would need to file the Form 706-NA (estate tax return for non-resident aliens) if there are over $60K in US situs assets (which includes any cash held in the account). It's not the end of the world, but it's a bit of a pain and can get expensive with more complex estates if you're paying an accountant to file.
In terms of a brokerage account, it may be the case that because it's a joint account with right of survivorship that the surviving holder can do what they want with the contents. However, I believe that US-domiciled brokers have a liability for any tax owed by non-resident aliens, so they tend to be very conservative in these matters. So they may want to be absolutely sure that the deceased's US tax obligations are taken care of before allowing any funds to be moved out of the account by the joint holder. So that means filing the 706-NA and waiting 1+ years to get the transfer certificate.